Gap hoists minimum wage, to $10 an hour by 2015

Gap CEO Glenn Murphy told employees this morning he is raising the company’s minimum wage across all its brands to $9 an hour in June 2014, and to $10 in 2015.

The increase will cover approximately 65,000 Gap store employees. The company said it does not have a fixed minimum wage currently, but a company spokeswoman said the “vast majority” of employees make more than the $7.25 federal minimum wage.

“After many months of consideration, we’ve made a business decision that’s right for our brands, good for our people and beneficial to our customers,” said Murphy.

“To us, this is not a political issue. Our decision to invest in frontline employees will directly support our business, and is one that we expect to deliver a return many times over.”